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Accounting software for people that don't like acocunts
May 04, 2015

Accounting software for people that don't like acocunts

Nick Dye, MBA, FRSA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with FreeAgent


I work through a limited company, VAT registered and I do my own PAYE to keep accountant costs down and to allow me to have a good handle on what's going on.

I do occasionally have other people helping me out with the work and they will also go on the payroll for a limited period of time.
  • VAT returns are filed electronically, after prompts and auto generated
  • RTI returns filed automatically for payroll
  • Prompts or future bills such as corporation tax, VAT payments etc
  • Investments such as stocks and shares or commodities
  • Sometimes it will guess account entries incorrectly and will always assume it knows which way you want to take money out of the company (dividend/expense/salary)
  • FreeAgent allows me more time to focus on business rather than accounting, returns and other bureaucracy.
I'm a busy IT contractor and I'm disinterested in spending time on my accounts. FreeAgent allows you to upload your bank statements, it has a best guess at applying it to the accounts, you then attach scanned receipts and that's about all you need to do to keep things going.

You can file your payroll and your VAT returns electronically. I can give permission to my accountant to download accounts annually. Dividends and expenses are handled as well as reminders for both overdue invoices and filing returns and additionally it will forecast corporation tax and other bills.

There are limits, such as investments and subsidiaries, but it will do the vast bulk of work with ease.

The support, although only by email, is prompt and helpful.

If you don't know much about accounts and don't like spending time on them I think most independent consultants can benefit substantially by using these guys.

FreeAgent Feature Ratings

8.9
Accounts payable
8
Accounts receivable
9
Cash management
10
Bank reconciliation
10
Expense management
8
Time tracking
Not Rated
Fixed asset management
9
Multi-currency support
Not Rated
Regulations compliance
9
Electronic tax filing
10
Self-service portal
7
6.0
Inventory tracking
7
Location management
5
Manufacturing module
Not Rated
7.0
Pricing
Not Rated
Order entry
7
Credit card processing
Not Rated
Cost of goods sold
Not Rated
8.2
Pay calculation
8
Benefit plan administration
7
Direct deposit files
8
Salary revision and increment management
9
Reimbursement management
9
9.7
Dashboards
10
Standard reports
10
Custom reports
9
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
10.0
Role-based user permissions
10
Single sign-on capability
10